U.S. October PPI is out: wholesale inflation eased off the gas a little month over month, but the annual rate is still soaring to a nearly four-year high 🧾
The data: Headline PPI rose 0.3% month over month, versus 0.4% expected. The prior reading was revised up from 1.3% to 1.4%. The annual rate was 6.5%, versus 6.6% expected and 6.3% previously—the fastest year-over-year increase since November 2022, when it was 7.4%. Core PPI (excluding food and energy) rose 0.3% month over month and 5.0% year over year, both right in line with expectations. In short: much milder than last month’s surge, but the annual-rate pressure is still there.
Crypto markets initially breathed a sigh of relief: $BTC was around 69,246 at 21:29, dipped to about 69,068 on the 21:30 one-minute candle, then turned around and climbed as high as roughly 70,214. It’s now around 69,870, up about 0.9% since the release. $ETH rose from around 1,957 to a high of about 1,989, and is now around 1,980, up about 1.2% since the release. After hitting a weekly low near 67,568 earlier today, this slightly softer-than-expected monthly reading gave risk assets at least a little room to catch their breath.
My take: The cooler monthly figure is a small relief, but a 6.5% annual rate is still enough to give the Fed a headache. Don’t mistake this rebound in the first few minutes after the release for a turning point in the inflation story. Chart shows BTC/ETH price action over the three hours around the release; data from Binance Spot. Personal opinion only, not investment advice.
#美国PPI #宏观数据 #BTC #ETH #DailyCrypto
$BTC $ETH
The data: Headline PPI rose 0.3% month over month, versus 0.4% expected. The prior reading was revised up from 1.3% to 1.4%. The annual rate was 6.5%, versus 6.6% expected and 6.3% previously—the fastest year-over-year increase since November 2022, when it was 7.4%. Core PPI (excluding food and energy) rose 0.3% month over month and 5.0% year over year, both right in line with expectations. In short: much milder than last month’s surge, but the annual-rate pressure is still there.
Crypto markets initially breathed a sigh of relief: $BTC was around 69,246 at 21:29, dipped to about 69,068 on the 21:30 one-minute candle, then turned around and climbed as high as roughly 70,214. It’s now around 69,870, up about 0.9% since the release. $ETH rose from around 1,957 to a high of about 1,989, and is now around 1,980, up about 1.2% since the release. After hitting a weekly low near 67,568 earlier today, this slightly softer-than-expected monthly reading gave risk assets at least a little room to catch their breath.
My take: The cooler monthly figure is a small relief, but a 6.5% annual rate is still enough to give the Fed a headache. Don’t mistake this rebound in the first few minutes after the release for a turning point in the inflation story. Chart shows BTC/ETH price action over the three hours around the release; data from Binance Spot. Personal opinion only, not investment advice.
#美国PPI #宏观数据 #BTC #ETH #DailyCrypto
$BTC $ETH
